2023-11-09T07:29:24-06:00 2023-06-30 540737372 PBMARES LLP 701 TOWN CENTER DRIVE SUITE 900 NEWPORT NEWS VA 23606 990 2022-07-01 541863192 CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION CHRI 7575947941 ONE UNIVERSITY PLACE NEWPORT NEWS VA 236062998 SPENCER MCDONALD CONTROLLER 7575947941 2023-11-06 1 SPENCER MCDONALD XXX-XX-XXXX 0 JENNIFER N FRENCH CPA P00659678 7578731587 2023-11-03 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SPENCER MCDONALD ONE UNIVERSITY PLACE NEWPORT NEWS VA 236062998 13072963 0 X HTTP://EXPLORE.CNU.EDU/ X 1997 VA TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY. 15 11 1 12 234924 193192 0 0 0 0 -233453 4309 4704286 4117653 4470833 4121962 2751041 2914294 0 0 578599 662432 0 0 0 219517 270811 3549157 3847537 921676 274425 113342924 122142733 103206373 111580357 10136551 10562376 TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY. 0 0 2914294 2914294 3865142 CHRISTOPHER NEWPORT UNIVERSITY - EDUCATIONAL EXPENSES GIVEN AS DIRECT SUPPORT TO CHRISTOPHER NEWPORT UNIVERSITY. 2914294 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 10 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X SPENCER MCDONALD 7575947941 ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 ADELIA P THOMPSON BOARD MEMBER 10.00 30.00 X 0 410584 23972 ANN HUNNICUT BOARD MEMBER 1.00 0.00 X 0 0 0 RANDOLPH P BRYANT BOARD MEMBER 1.00 0.00 X 0 0 0 MICHAEL C MARTIN PRESIDENT 10.00 0.00 X 0 0 0 PAUL S TRIBLE BOARD MEMBER 10.00 30.00 X 605100 426384 32343 WILLIAM P HEATH JR BOARD MEMBER 1.00 1.00 X 0 0 0 WILLIAM L BRAUER BOARD MEMBER 1.00 0.00 X 0 0 0 LINDSEY A CARNEY BOARD OF VISITORS APPOINTE 1.00 0.00 X 0 0 0 W BRUCE JENNINGS BOARD MEMBER 1.00 0.00 X 0 0 0 M CLARK BALDWIN VICE PRESIDENT 1.00 0.00 X X 0 0 0 STEVEN A MEADE BOARD MEMBER 1.00 0.00 X 0 0 0 CHARLES WORNOM BOARD MEMBER 1.00 0.00 X 0 0 0 JENNIFER LATOUR SECRETARY 10.00 30.00 X X 0 239549 32135 C LARRY POPE BOARD OF VISITORS APPOINTE 1.00 0.00 X 0 0 0 ALAN WITT BOARD MEMBER 1.00 39.00 X 0 215544 22529 K SPENCER MCDONALD CONTROLLER & TREASURER 20.00 20.00 X 0 139664 13361 DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 20.00 20.00 X 0 227184 23341 605100 1658909 147681 1 0 1 0 GLAVE & HOLMES 2101 E MAIN ST RICHMOND VA 23223 ARCHITECTURAL SERVICES 214638 MCGUIRE WOODS LLP GATEWAY PLAZA RICHMOND VA 23219 LEGAL ASSISTANCE 162905 2 4309 4309 13046547 8951001 4095546 4095546 3860622 234924 UBIT REFUND 531110 17587 17587 PROPERTY DAMAGE REFUND 531110 4235 4235 UTILITY REFUND 531110 285 285 22107 4121962 3865142 234924 21896 2914294 2914294 627157 627157 35275 35275 157152 157152 1657 1657 21775 21775 19512 19512 367 367 3844 3844 UNRELATED BUSINESS INCO 63669 63669 DUES AND SUBSCRIPTIONS 2835 2835 3847537 2914294 933243 0 5486634 2955880 1004309 980000 940000 823463 825808 393 359 159105032 45693001 103470298 113412031 2582136 3004346 113342924 122142733 405022 2022614 73460641 68626760 28923922 40768675 416788 162308 103206373 111580357 X 10136551 10562376 10136551 10562376 113342924 122142733 X 274425 151400 X X 0 1 X 1 0 X X 1 CHRISTOPHER NEWPORT UNIVERSITY 540701501 2 1 2914292 0 1 2914292 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X 1 1 SCHEDULE A, PART IV, SECTION E, LINE 2A THE CNU REAL ESTATE FOUNDATION IS A NONPROFIT CORPORATION WHICH FUNCTIONS AS A CHARITABLE FOUNDATION TO ASSIST, SUPPORT AND FOSTER THE MISSION OF CHRISTOPHER NEWPORT UNIVERSITY. THE REAL ESTATE FOUNDATION ACCOMPLISHED THIS MISSION BY: - PROVIDING THE UNIVERSITY WITH GUIDANCE AND DECISION-MAKING INFORMATION IN THE MATTERS OF REAL ESTATE AND REAL ESTATE VALUE AND ACQUISITION; - FUNCTIONING AS A HOLDING COMPANY AND MANAGER OF NON-CAMPUS PROPERTIES; - ADVISING CNU LEADERSHIP IN THE SECURING OF REAL ESTATE FOR INVESTMENT PURPOSES AND; - PROVIDING DIRECT SUPPORT TO THE UNIVERSITY TO ASSIST IN ITS OPERATIONS; - PROVIDING REAL ESTATE INFORMATION IN SUPPORT OF THE GROWTH AND GROWTH MANAGEMENT STRATEGIES OF THE UNIVERSITY. SCHEDULE A, PART IV, SECTION E, LINE 2B AS CHRISTOPHER NEWPORT UNIVERSITY CONTINUES TO GROW REAL ESTATE ACQUISITION AND MANAGEMENT WILL CONTINUE TO BE AND IMPORTANT ROLE OF CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION. 21785031 21785031 121951180 45398691 76552489 608460 275586 332874 14760361 18724 14741637 113412031 SECURITY DEPOSITS 85504 RENTS PAID IN ADVANCE 64441 DUE TO REAL ESTATE FOUNDATION 4053 ACCRUED UBIT 8310 162308 X 13079463 8957501 8957501 4121962 0 4121962 12653638 8957501 8957501 3696137 151400 151400 3847537 PART X, LINE 2: THE CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION AND REAL ESTATE FOUNDATIONS ARE EACH NOT-FOR-PROFIT ORGANIZATIONS THAT ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME FROM UNRELATED BUSINESS INCOME. THE ORGANIZATIONS ARE SUBJECT TO TAX ON DEBT FINANCED RENTAL INCOME AND ON INCOME FROM CERTAIN ALTERNATIVE INVESTMENTS. TAXES OF THIS NATURE INCURRED DURING THE YEARS ENDED JUNE 30, 2023 AND 2022 WERE $64,001 AND $59,800, RESPECTIVELY. THERE WAS NO TAX LIABILITY AS OF JUNE 30, 2023 AND 2022. NEITHER OF THE ORGANIZATIONS HAVE BEEN CLASSIFIED AS A PRIVATE FOUNDATION. FASB ASC 740 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATIONS' MANAGEMENT HAS EVALUATED THE IMPACT OF THE STANDARD TO ITS COMBINED FINANCIAL STATEMENTS. MANAGEMENT IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS, AND HAS NOT ACCRUED THE EFFECT OF ANY UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE ORGANIZATIONS' INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED. THE ORGANIZATIONS RECOGNIZE INTEREST AND PENALTIES INCURRED, IF ANY, RELATED TO INCOME TAX POSITIONS AS OTHER INTEREST EXPENSE AND PENALTIES EXPENSE, RESPECTIVELY. ALL SINGLE MEMBER LLC'S ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES AND THEIR ACTIVITIES ARE INCLUDED IN THE REAL ESTATE FOUNDATION'S TAX RETURNS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 8,951,001. RECAPTURE OF UNCOLLECTIBLE RENTS 6,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 8,951,001. RECAPTURE OF UNCOLLECTIBLE RENTS 6,500. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCOME TAX PAYMENTS 151,400. 1 CHRISTOPHER NEWPORT UNIVERSITY ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 540701501 115 2914292 0 EDUCATIONAL 1 PART I, LINE 2: SUPPORT IS PROVIDED TO THE UNIVERSITY BY DISBURSING DONATED FUNDS TO VARIOUS EDUCATIONAL ACTIVITIES OF THE UNIVERSITY. THESE DISBURSEMENTS REQUIRE DOCUMENTATION STATING THE REASON FOR THE DISBURSEMENT AND ARE APPROVED BY A SUPERVISOR KNOWLEDGABLE ABOUT THE ACTIVITY REQUESTING THE FUNDING. X X 0 0 0 0 0 0 0 0 0 PAUL S TRIBLE BOARD MEMBER 605100 426384 0 0 0 0 0 480 0 31863 605100 458727 0 0 ADELIA P THOMPSON BOARD MEMBER 0 410584 0 0 0 0 0 480 0 23492 0 434556 0 0 JENNIFER LATOUR SECRETARY 0 239549 0 0 0 0 0 480 0 31655 0 271684 0 0 DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 0 227184 0 0 0 0 0 480 0 22861 0 250525 0 0 ALAN WITT BOARD MEMBER 0 215544 0 0 0 0 0 240 0 22289 0 238073 0 0 K SPENCER MCDONALD CONTROLLER & TREASURER 0 139664 0 0 0 0 0 480 0 12881 0 153025 0 0 A ECONOMIC DEVELOPMENT AUTHORITY OF THE COUNTY OF JAMES CITY VA 541139263 2016-06-29 2642119 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VIRGINIA 521290859 2022-08-16 6878943 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 C INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VA 541737715 2020-01-28 20075000 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 D INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VA 541290859 2015-06-23 6886000 REFINANCE INDEBTEDNESS 0 0 0 A 516000 2642119 2642119 2001 0 0 1 1 B 432400 6878943 6878943 2002 0 0 1 1 C 3942698 20075000 252047 2302953 17520000 2004 0 0 1 1 D 3242080 6886000 118558 6767442 2015 1 0 1 1 A 1 0 0 0 1 0 1 B 1 0 0 0 1 0 1 C 1 0 0 0 1 0 1 D 1 0 0 0 1 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VIRGINIA 541737715 2013-12-18 41290000 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 B INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VA 541737715 2019-12-18 14000000 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 C INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NEWPORT NEWS VIRGINIA 541737715 2022-08-16 28500000 TO FINANCE ACQUISITION OF PROPERTIES DEEMED ESSENTIAL FOR EXPANSION 0 0 0 A 12212535 41290000 280000 41010000 2013 0 0 1 1 B 2799599 14000000 211559 13788441 2019 0 0 1 1 C 14637444 3575302 11062142 2024 0 0 0 1 A 1 0 0 0 1 0 1 B 1 0 0 0 1 0 1 C 1 0 0 0 1 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 1 0 0 0 1 C 0 0 0 0 0 0 0 0 1 A 1 B 0 C 1 FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER OF THE BOARD RECEIVED A PDF COPY OF THE TAX RETURN THROUGH E-MAIL. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, DIRECTORS MUST DISCLOSE INTEREST THAT COULD GIVE RISE TO CONFLICT. IF A CONFLICT ARISES, IT IS DOCUMENTED IN THE MINUTES AND ANY VOTE REQUIRES ABSTINENCE OF THE AFFECTED BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE MEETS AND AN AGREEMENT IS DRAFTED BY AN ATTORNEY. THE ORGANIZATION RECEIVES A COMPENSATION OPINION FROM A PROFESSIONAL COMPANY. THE AGREEMENT IS THEN RATIFIED BY THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: DEFERRED PROVISION FOR INCOME TAXES 151,400. PART XII, LINE 2C THE AUDIT COMMITTEE MEETS AT LEAST ONCE A YEAR. ANNUALLY, THE INDEPENDENT AUDITORS PRESENT THE AUDITED FINANCIAL STATEMENTS AND MANAGEMENT REPORT TO THE AUDIT COMMITTEE. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. RAPPAHANNOCK HALL AT CHRISTOPHER NEWPORT UNIVERSITY LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA 1505869 29993358 CNU REAL ESTATE FOUNDATION CNU VILLAGE LAND LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 383697295 REAL ESTATE HOLDING COMPANY VA 2833277 16832725 CNU REAL ESTATE FOUNDATION CNU BARCLAY TWO LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 542060797 REAL ESTATE HOLDING COMPANY VA 301777 13657441 CNU REAL ESTATE FOUNDATION CNU HIDENWOOD SHOPPING CENTER LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA 459271 10003938 CNU REAL ESTATE FOUNDATION CNU OFFICE PARK LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA 620649 7097361 CNU REAL ESTATE FOUNDATION CNU UNIVERSITY APARTMENTS LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 542058705 REAL ESTATE HOLDING COMPANY VA 2120570 4744651 CNU REAL ESTATE FOUNDATION UNIVERSITY PLACE RETAIL LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA 50542 3042944 CNU REAL ESTATE FOUNDATION MARINER EAST LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA -172707 2501626 CNU REAL ESTATE FOUNDATION CNU SOC LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA -5031 901070 CNU REAL ESTATE FOUNDATION CNU SPCOM LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 743143811 REAL ESTATE HOLDING COMPANY VA 797648 CNU REAL ESTATE FOUNDATION CNU PROPERTIES LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 542058704 REAL ESTATE HOLDING COMPANY VA 444448 786707 CNU REAL ESTATE FOUNDATION CNU 12396 WARWICK LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA -50709 594625 CNU REAL ESTATE FOUNDATION CNU VILLAGE RETAIL LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA 214964 CNU REAL ESTATE FOUNDATION WARWICK PROPERTIES EAST LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA -348 147702 CNU REAL ESTATE FOUNDATION CNU OFFICE PARK GUARANTOR LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU RAPPAHANNOCK CONDOMINIUM OWNERS ASSOCIATION ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU HIDEN HUSSEY LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU COMMERCIAL LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU VILLAGE LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU WARWICK TWO LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 542058737 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CNU 12340 WARWICK LLC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 REAL ESTATE HOLDING COMPANY VA CNU REAL ESTATE FOUNDATION CHRISTOPHER NEWPORT UNIVERSITY ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 540701501 EDUCATION VA 170(B)(1)(A)(IV) N/A 0 CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 541156248 SUPPORT OF UNIVERSITY VA 501(C)(3) 5 N/A 0 CNU RAPPAHANNOCK CONDOMINIUM ASSOCIATION ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 CONDOMINIUM ASSOCIATION VA C 1.00000 0 CNU VILLAGE CONDOMINIUM UNIT OWNERS' ASSOCIATION INC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 CONDOMINIUM ASSOCIATION VA C 1.00000 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 CHRISTOPHER NEWPORT UNIVERSITY B 2914292 CASH CHRISTOPHER NEWPORT UNIVERSITY J 9987652 CASH SCH R, PART I, COLUMN E DISREGARDED ENTITIES END OF THE YEAR ASSETS LLCS HAVE BEEN ESTABLISHED IN THE ANTICIPATION OF ACQUIRING PROPERTIES FOR THE REAL ESTATE FOUNDATION AND THE UNIVERSITY'S USE. PROPERTY HAS NOT YET BEEN ACQUIRED BY EVERY LLC. ALSO, CERTAIN LLC'S HAVE SERVED THEIR INITIAL PROPERTY ACQUISITION PURPOSE AND THE ASSETS HAVE BEEN SOLD OR TRANSFERRED; THESE LLCS ARE BEING MAINTAINED FOR FUTURE BUSINESS PURPOSES.